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Cosmos nears $30 after another rally

 Cosmos nears $30 after another rally

Cosmos nears $30 after another rally

      Bitcoin and Ethereum remain somewhat calm, while other cryptocurrencies are taking advantage of this lack of big moves to get stronger.  Cosmos is one of the main beneficiaries of the current context

      This cryptocurrency offers an ecosystem of blockchains designed to expand the scope of work with each other, which seems to attract the interest of investors, who are aware of its huge potential.

  While some major cryptocurrencies are still stagnant, as for example in the more premium cases of Bitcoin and Ethereum, others like Cosmos are having a good time.  This particularly comes from a new bounce and an improvement in its price, which brings it closer to $30.

  Cosmos, also known as ATOM, is a cryptocurrency that provides an ecosystem of blockchains designed to expand and interact with each other, and was designed with the goal of creating an Internet variant of blockchains, able to communicate with each other.  In a decentralized way, without relying on other systems.  This concept could explain why it grows when other cryptocurrencies are stable.

  Cosmos, 19% increase in just 24 hours

  In fact, the latest news is that this Cosmos ATOM token is up 19% in the past 24 hours, challenging the lack of momentum among leading assets like Bitcoin, Ethereum and Binance Coin.

  The latest opinions from analysts such as those at CoinGecko indicated that it is worth paying attention to.  Well, despite a slight last minute pullback, such growth on stable days is unusual.

  This is, although Cosmos has suffered a bit compared to other crypto assets in recent weeks.  Since hitting an all-time high of around $45 in September, it has failed to break out of the resistance.  While Avalanche, Solana and Ethereum recorded all-time highs.

  Now, there are few who believe that this service that connects new companies and provides inter-chain interoperability through the IBC protocol, and that companies like Terra, THORChain and Secret Network may face their final takeoff.  The one that makes you one of the altcoins to consider.

  While Cosmos is sometimes known as a Layer 0 network, at other times it is considered a Layer 1 network. So we can see that the cryptocurrency market has seen a boom in Layer 1 networks this year, in the middle.  From the increasing competition between Ethereum and other smart contract networks.

  Likewise, blockchains have become a mainstay for the nascent DeFi and NFT sectors.  Thus, they saw a rally in coins like ETH during the first half of 2021.

  However, the rise in the price of ETH also means an increase in the dollar price of the Ethereum gas fee.  This has helped other cheaper networks thrive, such as Avalanche and Solana.

  The market has alternated between different Layer 1 networks in recent months, although none of them came close to exceeding the 545 billion Ethereum market capitalization, which is evident at the moment.

  Even taking into account the new market capitalization, Cosmos has a capitalization of $8.7 billion.  This puts it in the twenty-sixth place among the largest cryptocurrencies on the planet.